Polyacrylate Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

 The Global Polyacrylate Market is projected to register a CAGR of over 4% during the forecast period (2021-2026). The market was negatively impacted by COVID-19 in 2020. Polyacrylate is used as a thickening agent in paints, coatings, and adhesives to change the rheological properties of the respective material. Considering the pandemic scenario, the construction activities were stopped during the COVID-19 lockdown, thus had decreased the consumption of paints, coatings, and adhesives, which in turn negatively impacts the demand for thickeners and polyacrylate.

Key Market Trends

Soaring Demand from Paints and Coatings Segment

- The paints and coatings segment is the major consumer of the polyacrylate market. The increasing construction activities across the globe are boosting the demand for polyacrylate in the coatings sector.

- The increasing middle-class population, coupled with their increasing disposable income, has facilitated the expansion in the middle-class housing segment, thereby, driving the residential construction.

- In 2019, the total value of new construction put in place was about USD 1365 billion in the United States and reached about USD 1430 billion in 2020, with a growth rate of about 4.5%, which in turn increases the consumption of polyacrylate.

- According to Eurostat, the construction production of EU-27 member countries increased by 22.1% in May 2020 compared to the previous month, considering the unprecedented decline in months of March and April due to the COVID-19 impact. Furthermore, the construction production decreased by 3.3% in December 2020 compared to November month

Asia-Pacific Region to Dominate the Market

- Asia-Pacific region dominated the market during the forecast period primarily due to the rising construction sector.

- China, India, and Japan are the major contributors to the increasing demand for polyacrylates across the region as well as the globe.

- According to deliberations on the 14th five-year plan (2021-26), China has intended to increase the permanent urban residents to 65% by 2025 with no specific GDP growth target set for the period under this plan.

- China was leading in the construction industry with market size of USD 1092.9 billion in the year 2019, registering a growth rate of 14.71% compared to the previous year, thus led to an increase in the demand for polyacrylate used in the construction industry material such as coatings and adhesives.

Competitive Landscape

Most of the players in the market captively consume polyacrylate to produce various products such as dispersions, polymethyl methacrylate (PMMA), and many more. The market studied is partially consolidated among the top players. The key players include BASF SE, Kao Corporation, Arkema, LG Chem, and Dow, among others.

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